ACM: more than 90% of non-EU market participants on wholesale energy markets complies with requirement to designate a local representative
                  

                
                                  






  







  



  
    
              
        
        
      
      
                        
          

Summary

More than 90% of non-EU market participants on wholesale energy markets complies with requirement to designate a local representative.
ACM must be able to confront a person established in the EU with the activities of non-EU businesses.
Market participants that have not yet designated a local representative risk facing enforcement actions by ACM.


  

  

    
      
          

      

  


                






        
          

Since November 2024,non-EU businesses that trade on the European wholesale markets for electricity and natural gas have been required to designate a representative in the EU Member State in which they are also registered. This is important, because the Netherlands Authority for Consumers and Markets (ACM), as well as other European energy regulators, can confront a person established in the EU with the activities of non-EU businesses. An ACM analysis has revealed that at least 90 percent of these market participants registered with ACM are in compliance with this requirement.


Market participants that have not yet designated a local representative risk facing enforcement actions by ACM. Businesses that are no longer active on the European wholesale markets are called on to end their registrations as market participants. New market participants are required to register with one of the European energy regulators and to designate a local representative before they are allowed to trade on the European markets.


More than 900 businesses have registered with ACM as market participants on the Dutch wholesale energy markets. Over a quarter of these registered businesses are located outside the EU. These businesses, therefore, have to designate a local representative in the Netherlands. The number of non-EU market participants is growing in relation to the total number of Dutch market participants.
Designating a local representative with proper authorization


The local representative must have the authorization to cooperate with formal requests and procedures of European energy regulators on behalf of the business. This helps the European energy regulators, including ACM, be able to conduct effective oversight over this group of non-EU businesses, and, if necessary, to force cooperation. This requirement is part of the revised European REMIT Regulation regarding the integrity and transparency of the wholesale natural-gas and energy markets.

  

  


                






  







  



  
    
              
        
        
      
      
                        
          What are the rules?


Market participants on the wholesale natural-gas and electricity markets located in EU Member States are required to:

Register with the energy regulator of the Member State in which they are located. In the Netherlands, this is ACM.



Market participants from outside the EU are required to:

Register with the energy regulator of the EU Member State in which they are active.
Designate a local representative in the same country as the one in which they are registered. This representative has to be authorized to act on behalf of the market participant, for example, in interactions with ACM and other European energy regulators.
Inform the energy regulator of the EU Member State in which they are active of the contact details of the representative. If market participants are active in multiple Member States, registering in one of these Member States and designating a local representative in that same Member State will suffice.


  

  

    
      
          

      

  


                






        
          Many foreign market participants as a result of the large Dutch wholesale market for natural gas (TTF)


Trade on the Dutch TTF wholesale market for natural gas is by far the largest in Europe, and draws a large number of active market participants, both from Europe and from around the world. The global influx of trading parties can have positive effects, such as more liquidity on the market. However, this is also accompanied by the need for European regulators to be sufficiently equipped to confront these market participants with their conduct, if necessary, and to take effective enforcement action.
Update of indicators of ACM’s regulatory activities under REMIT


ACM ensures that insider trading or market manipulation do not take place on wholesale markets, and that market participants comply with the requirement to publish inside information, to register, and to report transaction data. In these efforts, ACM collaborates with the Dutch Authority for the Financial Markets (AFM), the EU Agency for the Cooperation of Energy Regulators (ACER), and other European regulators. ACM publishes twice a year an update of indicators (in Dutch) of ACM’s regulatory activities under REMIT (Regulation on wholesale Energy Market Integrity and Transparency). In the latest update, it is reported that most of the reports that we received in the most recent period are about indications of potential market manipulation. In addition, the update reveals that 93 new market participants have registered with ACM over the past six months, of which more than half are established in countries outside the EU.
See also

06-05-2024 Stricter rules for wholesale electricity and natural-gas markets to come into force | ACM.nl
16-07-2025 Indicators of ACM’s regulatory activities under REMIT (in Dutch)


  

  


    
          
                                          
                                  
                        
                                  
                                
                  

                
          
          
          Publication characteristics
          
                                    
                Publication date
                16-07-2025
              
                      
                                    
                Publication type
                  News

              
                      

                      
              Spokesperson
              
                                    Tjitte Mastenbroek

                              
            
          
                                

          
                      

                                    
                Keywords
                  Electricity,
  Gas,
  REMIT

              
                      
                                    
                Subjects
                  Energy

ACM Reports High Compliance Among Non-EU Energy Market Participants

The Dutch Authority for Consumers and Markets (ACM) has announced that more than 90% of non-EU market participants in the wholesale energy sector are complying with the requirement to designate a local representative in the EU. This compliance is crucial for ensuring that ACM can effectively oversee and confront non-EU businesses regarding their activities in the European market.

Since November 2024, non-EU businesses trading in the European wholesale electricity and natural gas markets must appoint a representative in the EU Member State where they are registered. This requirement allows ACM and other European energy regulators to engage directly with these businesses, enhancing regulatory oversight and enforcement capabilities.

ACM's analysis indicates that over 900 businesses are registered as market participants in the Dutch wholesale energy markets, with a significant portion located outside the EU. As the number of non-EU participants increases, the importance of having a designated local representative becomes even more critical for compliance and regulatory interaction.

The local representative must be authorized to act on behalf of the non-EU business, facilitating cooperation with ACM and other regulators. This requirement is part of the revised European REMIT Regulation, which aims to maintain integrity and transparency in the wholesale energy markets.

ACM is also tasked with preventing insider trading and market manipulation, ensuring that market participants adhere to regulations regarding the publication of inside information and transaction reporting. The authority collaborates with various regulatory bodies to monitor compliance and has reported an increase in registrations, particularly from non-EU entities.



ACM Reports High Compliance Among Non-EU Energy Market Participants

The Dutch competition authority, ACM, reveals that over 90% of non-EU participants in wholesale energy markets have designated local representatives as required by new regulations.